Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.89 million dual directional buffer securities on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., June 13 – Citigroup Global Markets Holdings Inc. priced $2.89 million of 0% dual directional buffer securities due July 13, 2023 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, the payout at maturity will be par plus 200% of the least performing index’s return, subject to a maximum return of par plus 26.35%.
If the least performing index’s final level is less than or equal to its initial level but greater than or equal to its final buffer level, 90% of its initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% that the worst performer declines beyond 10%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional buffer securities
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $2,885,000
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| Maturity: | July 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus 200% of the least performing index’s return, subject to 26.35% cap; if the least performing index’s final level is less than initial level but greater than or equal to final buffer level, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% that the worst performer declines beyond 10%
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| Initial levels: | 4,115.77 for S&P, 12,615.13 for Nasdaq, 1,891.007 for Russell
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| Final buffer levels: | 3,704.193 for S&P, 11,353.617 for Nasdaq, 1,701.906 for Russell; 90% of initial index level
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17330P6H7
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